Morning Beats

Labour to Buhari: reverse electricity privatization

Organised Labour has restated its call for the reversal of the power sector’s privatisation.The Nation

NLNG needs $12b to boost expansion

The Nigerian Liquified Natural Gas (NLNG) will require investment of about $12 billion to fund the construction of two new processing units, known as trains.The Nation

Why operators are kicking against alcohol, tobacco tariff hike

The upward review of excise duty on alcohol and tobacco kicked off Monday.The Nation

DisCos lose N30b monthly to energy theft, others

Electricity Distribution companies (DisCos) suffer N30billion revenue deficit monthly due to government’s fixed pricing per unit of electricity and theft, Ikeja Electric Plc said yesterday.The Nation

Privatisation attracts $7.8bn FDIs, says BPE boss

Bureau of Public Enterprises, BPE, has attracted $7.8 billion Foreign Direct Investments, FDIs, through the sale of 53 public enterprises in the last 18 years.Vanguard

External reserves fall by $169m in six days

The nation’s foreign exchange reserves fell by $169m to $47.436bn on Wednesday, the latest data from the Central Bank of Nigeria showed on Thursday.Punch

CBN set to begin Chinese currency sale

Following the currency swap deal signed last month with the People’s Bank of China last month, the Central Bank of Nigeria has said it may conduct bi-weekly bidding sessions for the sale of Chinese currency to authorised dealers.Punch

Customs generate highest monthly revenue of N100bn

The Nigeria Customs Service on Thursday said it recorded its highest-ever monthly revenue collection of N100.1bn in May this year.Punch

NERC okays more firms to procure, install meters

The Nigerian Electricity Regulatory Commission on Thursday announced that it had cleared eight more firms and issued each of them a ‘No Objection’ to serve as Meter Asset Providers in the electricity supply industry.Punch

RMAFC backs Buhari on oil production sharing contracts’ review

The Revenue Mobilisation Allocation and Fiscal Commission has thrown its weight behind President Muhammadu Buhari on the approval given to the Nigerian National Petroleum Corporation to enable it undertake a review of all Production Sharing Contracts between it and its various partners to reflect current realities.Punch

NSE posts N8.30bn income, targets improved performance

The Nigerian Stock Exchange recorded a total income of N8.30bn and N3.82bn surplus before tax for the year ended December 31, 2017.Punch

Trade between Commonwealth countries to hit $1tn

The International Trade Centre says trade between Commonwealth countries, estimated at $700bn in 2015, is expected to hit $1tn by 2020.Punch

Abandoned investments threaten future oil sector demand

Though the price of crude oil has maintain a steady increase in the last six months, for the members of Organisation of the Petroleum Exporting Countries (OPEC), it is not yet time to celebrate, as the decline of investment in the exploration sector to constitute a major threat to future oil demand.Guardian

Dangote cement, NASCON others lift NSE index further by 1.58%

Price gains recorded by most blue chip stocks especially Dangote cement and National Salt Company of Nigeria (NASCON), yesterday buoyed transactions on the trading floor of the Exchange, even as the index rose further by 1.58 per cent.Guardian

How sustainability of ‘7big wins’ will improve Nigeria’s oil production

Statistics provided by the Nigerian National Petroleum Corporation (NNPC) showed that Nigeria had from January to November 2016 lost over 130 million barrels of crude oil to the activities of 32 militant groups in the oil-producing region.Guardian